News Updates: Olsens Will Party In DVF, Heidi Out-Divas Posh, And More…

It has been announced that Diane von Furstenberg will be designing custom dresses for the Olsen twins for Monday night's Costume Institute Ball. Other confirmed guests include Hilary Duff, Tom and Gisele, and Cameron Diaz. [FWD]

Heidi Montag's Heidiwood line has been outselling Victoria Beckham's denim line in stores. Posh's jeans are now making their way to designer discount clothing stores due to lack of sales. [StyleDash]

As part of their new ad campaign, A Diamond Is Forever will be handing out roses to random passersby in New York's Grand Central Station next week. The roses are part of a lottery to win a diamond necklace. [WWD]

Actress Kate Hudson will appear on the cover of People Magazine's 2008 Most Beautiful People issue. [Defamer]